A rightward shift of the economy's labor supply curve would result from a(n)
a. cut in income tax rates or an increase in welfare benefits to the needy
b. cut in income tax rates or a cut in benefits to the needy
c. increase in income tax rates or a cut in benefits to the needy
d. increase in income tax rates or an increase in benefits to the needy
e. cut in income tax rates or a freeze on benefits to the needy
B
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
The earnings gap between better- and lesser- educated workers has held steady
Indicate whether the statement is true or false
Government subsidies are in place to protect the population rather to benefit the economy in the case of which recipient(s)?
(A) Tobacco growers in the United States. (B) National airlines in Western Europe. (C) Small farms in France. (D) A national car company in Indonesia.
The statement "Every contract, combination in the form of a trust or otherwise, or conspiracy, in restraint of trade or commerce . . ." is found in the
A. Interstate Commerce Commission Act. B. Sherman Antitrust Act. C. Clayton Antitrust Act. D. Robinson-Patman Act.